RBI to probe into alleged suicide of farmer

Mysore, Dec 14 (UNI) A Reserve Bank of India (RBI) team will probe the alleged suicide by a farmer from Nanjangud recently following harassment by the recovery squad of ICICI bank, Mysore District Deputy Commissioner N S Chennappa Gowda said today.

Mr Gowda who held a meeting with officials of nationalised banks and ICICI bank at his office later told newsmen that the Regional Planning Credit Development (RPCD) wing of RBI would visit city to probe into the allegation of forcible recovery of loans from farmer Manjunath. The ICICI Bank officials had said that they would abide by the team's report.

The meeting was held in the wake of agitation of farmers against the ICICI bank in the city since last four days and blamed the bank authorities for the suicide of farmer Manjunath of Hosapuara in Nanjangud taluk last week.

About 28 officials from 18 nationalised banks and ICICI bank officials including Chief General Manager (customer care) Mandivanan from Mumbai attended the meeting. The Deputy Commissioner said that he too would write to the RPCD to hold the probe soon.

The ICICI officials defended their policy of engaging private agencies for loan recovery stating that their action was based on the RBI guidelines. A nationalised bank official observed that new generation banks do not know how to recover loans in a civilised manner. The private agencies engaged by them adopt aggressive methods to recover loans.

Meanwhile, farmers led by KRRS staged a stir in front of ICICI branches in the city. They also demanding Rs 25 lakhs as compensation to the family members of the deceased.

UNI